Oil to $100 before the end of week!

[The Kin2]

This is very ambitious, but a perfect storm is brewing. Let's see if we can pump to $95 before fed. Then make the remaning $5 after fed. With some luck, we'll be able to celebrate!

 

[rateesquad]

I hope not. How you will heat your home in the North?

 

[The Kin2]

Same way I did last year. According to CPI, it's only 2 or 3% higher than last year.

 

[Surdo]

Why should home heating oil prices rise?
Gasoline has only gone up @ the pumps .10/gallon, as crude is up $10/bbl....something ain't right in this equation, when this falls it is gonna fall hard.

I happen to agree it will hit PAR before December $92.40 last!

e s

 

[The Kin2]

I don't understand either. Either crude is severely overpriced or gas and heating oil will skyrocket soon. Nevertheless, does this current situation present an excellent arbitrage oppurtunity?

 

[Trendytrader]

Don't speak too soon. Heating oil up 0.85 tonights trading 244.10 wholesale. +0.35% Gold just leapt to 791.30

http://www.bloomberg.com/markets/commodities/cfutures.html

But as they say energy and food don't count towards CPI so FED can cut rate 25bp this week no worries! Hell cut rate 50bp as DOW is only up 9% YTD as the FED must ensure double digit increase for economy aka. Wall Street.

 

[erlewine]

ET sentiment top?

I'm offering Dec crude @ 93, should trade there by the morning; looking to cover in a week or so.

Don't be the guy holding the hot potato.

 

[scriabinop23]

Quote from erlewine:

ET sentiment top?

I'm offering Dec crude @ 93, should trade there by the morning; looking to cover in a week or so.

Don't be the guy holding the hot potato.

Long or short it is a hot potato... Puts look more attractive.

 

[bluud]

Quote from scriabinop23:

Puts look more attractive.

that doesn't sound so good ... there is a great chance that fed will cut ... even 50 points ... there is also a great possibility of even more serious war between turkey and kurdistan

 

[The Kin2]

BTW, At what price will oil hit its inflation adjusted peak. $100 should be very close to it.